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Markets are driving higher across the board this morning aided by talk that interest rates should remain at historic lows for longer than anticipated as inflation concerns increase. The market has also been buoyed this morning by some of the bigger UK 100 companies releasing earnings that pleased the markets and increased sentiment for their sectors. A note published by a Goldman Sachs analyst this morning forecasting that the S&P 500 will register a new all-time high by the end of the year has also helped increase sentiment in the markets.
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The UK’s UK 100 failed to maintain a break of prior resistance yesterday, however, it did then find support at its 20 day moving average. 6409 will again be a level to watch today, with a break above giving to UK 100 a possible run into the 6500’s.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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Germany’s DAX is trading at a key support level this morning, a break of which could signal a run up towards the 50 day moving average around 9314. The RSI is still climbing too.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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The US Dow Jones is now only about 450 points away from its all-time highs as it continues to push on. This morning has seen the Dow break above both its 50 and 100 day moving averages with very little resistance ahead we could see 17000 again very soon.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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